No Fraud Risk Control Framework is Complete Without Deterrence and Prevention

A robust fraud risk framework is your most effective and sustainable defence against fraud threats when it comes to delivering favourable outcomes for your stakeholders. The key is building dynamic fraud controls based on a thorough evaluation of fraud threats and their financial impact on your business.

In addition to detection and investigation, a robust framework must also encompass deterrence and prevention strategies across every aspect of the business.

Our IBNR Expertise:

• Psychology of fraud deterrence and prevention
• Understanding fraudster behaviourism, particularly in the age of digital insurance
• Best-in-class principles for dynamic fraud risk control frameworks
• Fraud deterrence communications
• Fraud deterrence schemes based on risk and profit

Our Services:

• Influencing consumer behaviour through cost-effective fraud deterrence communications
• Deterring honest consumers from committing opportunistic fraud
• Designing fraud deterrence messages that correspond with the level of fraud threat
• Integrating prevention at the product development stage (product proofing)
• Assessing the inherent fraud risk of existing insurance products
• Bringing in fraud experts and other specialists or claims settlers
• Flagging risk enhancing factors to insurer